Bahia Metals Corp. Files Preliminary Prospectus for Initial Public Offering of up to $5 Million
- Bahia Metals Corp.
- Oct 15, 2025
- 5 min read
Updated: Jan 14
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES
VANCOUVER, BC, October 15, 2025 /CNW/ - Bahia Metals Corp. ("Bahia Metals" or the "Company"), is pleased to announce that it has filed a preliminary prospectus for a proposed initial public offering (the "Offering") of Units of the Company (the "Units") for aggregate proceeds of a minimum of $3,000,000 to a maximum of $5,000,000. Each Unit shall be offered at a price of $0.50 per Unit and shall be comprised of one common share of the Company (a “Unit Share”) and one-half of one common share purchase warrant (each whole warrant, “Warrant”). Each Warrant shall be exercisable to acquire one common share (a “Warrant Share”) at an exercise price $0.90 for a period of 36 months from the closing of the Offering.
In connection with the Offering and as a condition to closing of the Offering, the Company intends to apply to list its common shares on the Canadian Securities Exchange (the “CSE”), with listing being subject to the Company fulfilling the initial listing requirements of the Exchange. The Offering will be conducted on a commercially reasonable marketed efforts basis by Canaccord Genuity Corp. (“Canaccord Genuity” or the “Lead Agent”), the lead agent and sole bookrunner.
The Company has granted the Lead Agent an over-allotment option (the "Over-Allotment Option"), exercisable in whole or in part, at any time and from time to time, for a period of 30 days following the closing of the Offering, to purchase up to an additional 15% of the number of Units sold under the Offering at the offering price. The preliminary prospectus was filed with the securities commissions in certain provinces of Canada and contains important information relating to the Units, Units Shares, Warrants, and Warrant Shares (collectively, the “Offered Securities”).
It is available under the Company's profile on SEDAR+. The preliminary prospectus remains subject to completion or amendment. There will not be any sale or any acceptance of an offer to buy the Offered Securities until a receipt for the final prospectus has been issued by the relevant securities commissions or regulatory authorities in Canada. Mr. Goodman states “the IPO of Bahia Metals represents a positive milestone in the company’s trajectory. Upon completion of the IPO Bahia Metals will hold 100% of a Sulphide-Nickel-CopperCobalt asset initially developed by investors related to Appian Capital Advisory Limited.
About Bahia Metals Corp.
The Company was formed to acquire and advance the Mangueiros Project, a shallow Sulphide Nickel-Copper-Cobalt project comprised of three assets in the State of Bahia, Brazil. To date, approximately $7.5 million has been invested to advance the project.
Following the IPO there will be five members of board of directors of Bahia Metals as follows:
Mr. Milson Mundim - Country Manager Appian Capital Brazil
Mr. Michal Li - Head of North America - Appian Capital
Other board members include:
Mr. Martin Pawlitschek, former Senior VP Geology, Appian Capital. Mr. Pawlitschek is the President, CEO and Director of Sanu Gold Corp.
Mr. Stephen Goodman, CEO, Bahia Metals
Mr. Goodman brings over two decades of investment banking and mining experience, having completed more than $1B in transactions. He is the Founder of Falcon Butte Minerals and a proven creator of shareholder value.
Mr. Thomas Pressello, CFO, Bahia Metals
Mr. Pressello has over 25 years in corporate finance and investment management. As Founder of Active Hedge, he has raised and invested more than $1B in resource companies and funds globally.
Bahia Metals Brazil Team
The Company is fortunate that on the close of the IPO, Mr. Elton Pereira will join the Company as the VP of Exploration and Country Manager, Brazil.
Mr. Pereira is formerly Appian Capital’s Head of Exploration Brazil and was a part of their team credited with advancing Atlantic Nickel. Mr. Pereira has a long track record of success in discovery and development with jr. mining companies in Brazil, including Brazauro Resources Corp. (bought by Eldorado Gold Corp.) and Tri Star Gold Inc. He also worked for 12 years with Rio Tinto.
No securities regulatory authority has either approved or disapproved of the contents of this news release. The Offered Shares have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws. Accordingly, the Offered Securities may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to exemptions from the registration requirements of the U.S. Securities Act and applicable state securities laws. There will be no public offering of Offered Securities in the United States. This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities of Bahia Metals in the United States or any jurisdiction in which such offer, solicitation or sale would be unlawful.
On behalf of the Board of Directors
(signed) “Stephen Goodman”
Stephen Goodman
CEO and Director
Bahia Metals Corp.
720- 999 W Broadway
Vancouver BC V5Z 1K5
Office: +1 604-235-7083
Email: Investors@BahiaMetals.Com
Forward Looking Statement:
This news release includes certain forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein including, without limitation, statements regarding the completion of the IPO and associated acquisition of mineral , commencement of trading of the Company's common shares on the Canadian Securities Exchange, future capital expenditures, anticipated content, commencement, and cost of exploration programs in respect of the Company's projects and mineral properties, anticipated exploration program results from exploration activities, resources and/or reserves on the Company's projects and mineral properties, and the anticipated business plans and timing of future activities of the Company, are forward-looking statements. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Often, but not always, forward looking information can be identified by words such as "pro forma", "plans", "expects", "will", "may", "should", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", "believes", "potential" or variations of such words including negative variations thereof, and phrases that refer to certain actions, events or results that may, could, would, might or will occur or be taken or achieved. In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, that market fundamentals will result in sustained base metals and other metals demand and prices, the receipt of any necessary permits, licenses and regulatory approvals in connection with the future exploration of the Company's properties, the availability of financing on suitable terms, and the Company's ability to comply with environmental, health and safety laws.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements. Such risks and other factors include, among others, statements as to the closing of the IPO and acquisition of mineral anticipated business plans and timing of future activities of the Company, including the Company's proposed expenditures for exploration work, the ability of the Company to obtain sufficient financing to fund its business activities and plans, delays in obtaining governmental and regulatory approvals, permits or financing, changes in laws, regulations and policies affecting mining operations, financial condition and results of operations, the Company's limited operating history, currency fluctuations, title disputes or claims, environmental issues and liabilities, as well as those factors discussed under the heading "Risk Factors" in the Company's preliminary prospectus dated October 6, 2025, and other filings of the Company on SEDAR+.
Readers are cautioned not to place undue reliance on forward-looking statements. The Company undertakes no obligation to update any of the forward-looking statements in this news release except as otherwise required by law.
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